Upstart readies largest ABS to date

Fintech
By Jennifer Kang
04 May 2021

Upstart is returning with a $490m securitization backed by unsecured personal loans, its biggest deal to date. The ABS transaction announcement comes as the company has been increasing its capital base and lending capacity through various means, such as completing an IPO as well as partnering up with banks or start-ups.

Upstart is an online personal lending platform that uses artificial intelligence to underwrite borrowers, potentially at rates lower than traditional FICO-based lenders. The fintech went public in December 2020 and has been quickly building scale ever since.

Following the IPO, Upstart announced its acquisition of an ...

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